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U.K. (FTSE) REITS Industry Analysis

UpdatedMay 02, 2026
DataAggregated Company Financials
Companies14
  • 7D-1.2%
  • 3M-6.7%
  • 1Y-1.8%
  • YTD-3.3%

Over the last 7 days, the REITS industry has dropped 1.2%, driven by declines in Land Securities Group and British Land of 1.4% and 1.5%, respectively. As for the longer term, the industry's performance has been flat for the past year. As for the next few years, earnings are expected to grow by 11% per annum.

Industry Valuation and Performance

Has the U.K. REITS Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 03 May 2026UK£13.8bUK£2.2bUK£1.3b8.8x10.3x6.2x
Tue, 31 Mar 2026UK£11.4bUK£2.0bUK£1.1b8.2x10x5.8x
Thu, 26 Feb 2026UK£13.4bUK£2.0bUK£1.1b10x12x6.8x
Sat, 24 Jan 2026UK£13.0bUK£2.0bUK£1.1b9.8x11.6x6.6x
Mon, 22 Dec 2025UK£12.4bUK£2.0bUK£1.1b9.1x11.1x6.3x
Wed, 19 Nov 2025UK£12.3bUK£1.9bUK£997.4m9.5x12.3x6.4x
Fri, 17 Oct 2025UK£9.8bUK£1.6bUK£826.3m11x11.9x6x
Sun, 14 Sep 2025UK£8.8bUK£1.7bUK£810.9m10x10.9x5.3x
Tue, 12 Aug 2025UK£9.3bUK£1.7bUK£795.6m10.7x11.7x5.6x
Thu, 10 Jul 2025UK£14.1bUK£2.1bUK£1.1b11.2x12.3x6.8x
Sat, 07 Jun 2025UK£14.1bUK£2.1bUK£1.1b11.7x13x6.9x
Mon, 05 May 2025UK£13.9bUK£1.8bUK£451.3m22.8x30.8x7.5x
Wed, 02 Apr 2025UK£13.0bUK£1.9bUK£471.7m21.9x27.5x7x
Fri, 28 Feb 2025UK£13.1bUK£1.9bUK£461.0m22.4x28.5x7.1x
Sun, 26 Jan 2025UK£12.7bUK£1.9bUK£461.0m21x27.5x6.8x
Tue, 24 Dec 2024UK£12.8bUK£1.8bUK£466.7m21.4x27.5x6.9x
Thu, 21 Nov 2024UK£13.5bUK£1.9bUK£176.0m36.4x76.9x7.1x
Sat, 19 Oct 2024UK£15.3bUK£2.0b-UK£310,007,160.2429.7x-49.4x7.7x
Mon, 16 Sep 2024UK£15.9bUK£2.0b-UK£302,760,887.8928.4x-52.4x8x
Wed, 14 Aug 2024UK£14.6bUK£2.0b-UK£280,743,601.3327.6x-51.9x7.3x
Fri, 12 Jul 2024UK£14.9bUK£2.0b-UK£257,791,882.2527.4x-57.8x7.5x
Sun, 09 Jun 2024UK£14.9bUK£2.0b-UK£333,313,624.4927.2x-44.7x7.5x
Tue, 07 May 2024UK£15.4bUK£2.0b-UK£2,091,936,477.7420.3x-7.3x7.7x
Thu, 04 Apr 2024UK£14.8bUK£2.0b-UK£2,717,787,246.0814.6x-5.5x7.4x
Sat, 02 Mar 2024UK£12.2bUK£2.1b-UK£2,878,471,514.2419.6x-4.2x5.8x
Mon, 29 Jan 2024UK£16.1bUK£2.4b-UK£2,672,160,542.0011.4x-6x6.7x
Wed, 27 Dec 2023UK£16.8bUK£2.4b-UK£2,633,207,684.0011.3x-6.4x7x
Fri, 24 Nov 2023UK£15.9bUK£2.3b-UK£2,608,738,896.0011.2x-6.1x6.8x
Sun, 22 Oct 2023UK£14.6bUK£2.2b-UK£2,598,555,294.0011.8x-5.6x6.7x
Tue, 19 Sep 2023UK£14.9bUK£2.2b-UK£1,856,899,585.007.5x-8x6.8x
Thu, 17 Aug 2023UK£15.2bUK£2.2b-UK£1,753,918,111.007.5x-8.6x7x
Sat, 15 Jul 2023UK£17.9bUK£2.3b-UK£1,991,205,404.006.1x-9x7.9x
Mon, 12 Jun 2023UK£18.6bUK£2.3b-UK£1,806,324,839.006.8x-10.3x8.2x
Wed, 10 May 2023UK£19.1bUK£2.2bUK£1.5b6.5x12.9x8.7x
Price to Earnings Ratio

12.9x


Total Market Cap: UK£19.1bTotal Earnings: UK£1.5bTotal Revenue: UK£2.2bTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. REITS Industry Price to Earnings3Y Average -1.4x202420252026
Current Industry PE
  • Investors are pessimistic on the British REITs industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 10.3x which is higher than its 3-year average PE of -1.4x.
  • The 3-year average PS ratio of 6.9x is higher than the industry's current PS ratio of 6.2x.
Past Earnings Growth
  • The earnings for companies in the REITs industry have declined 3.2% per year over the last three years.
  • Meanwhile revenues have remained mostly flat.
  • This means that although sales have remained flat, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Trends

Which industries have driven the changes within the U.K. Real Estate industry?

GB Market-0.18%
Real Estate-1.16%
REITS-1.22%
Healthcare REITs1.14%
Specialized REITs0%0
Retail REITs-0.52%
Residential REITs-1.10%
Diversified REITs-1.22%
Office REITs-1.48%
Industrial REITs-1.60%
Industry PE
  • Investors are most optimistic about the Office REITs industry even though it's trading below its 3-year average PE ratio of 150x.
    • Analysts are expecting annual earnings growth of 21.9%, which is lower than the prior year's growth of 39.0% per year.
  • Investors are most pessimistic about the Retail REITs industry, which is trading below its 3-year average of 50.6x.
Forecasted Growth
  • Analysts are most optimistic on the Office REITs industry, expecting annual earnings growth of 22% over the next 5 years.
  • However this is lower than its past earnings growth rate of 39% per year.
  • In contrast, the Retail REITs industry is expected to see its earnings grow by 4.4% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
SREI Schroder Real Estate Investment TrustUK£0.502.7%
+UK£6.4m		-5.1%PB0.8x
CREI Custodian Property Income REITUK£0.861.1%
+UK£4.4m		11.6%PB0.9x
AEWU AEW UK REITUK£1.030.8%
+UK£1.3m		0.8%PB0.9x
API abrdn Property Income TrustUK£0.0236.4%
+UK£533.7k		-56.3%PB0.7x

Latest News

AIRE
UK£0.71
Alternative Income REIT
7D
-4.0%
1Y
1.0%
API
UK£0.023
abrdn Property Income Trust
7D
6.4%
1Y
-56.3%
SRE
UK£1.01
Sirius Real Estate
7D
-0.2%
1Y
7.9%

SRE: Defence-Led German Acquisitions And Firmer Margins Will Support Future Income

The latest Narrative Update for Sirius Real Estate reflects a modest cut to the analyst price target to £1.26 from £1.27, with analysts citing slightly higher discount rate assumptions, offset by expectations for firmer profit margins and a lower future P/E. Analyst Commentary Recent research on Sirius Real Estate highlights a mix of optimism about execution and caution around valuation inputs, which together explain the small adjustment to the price target.
LAND
UK£5.90
Land Securities Group
7D
-1.4%
1Y
-1.8%

LAND: Future Income Will Depend On Prime London Leasing And Timber Square Execution

Analysts have trimmed their average price target for Land Securities Group by around £0.20 to £0.23 per share. This reflects a mix of cautious revisions to fair value, discount rate and future P/E assumptions, alongside fresh research that includes both target cuts and at least one recent upgrade.
SHC
UK£1.33
Shaftesbury Capital
7D
-2.0%
1Y
-5.4%
GRIO
UK£0.17
Ground Rents Income Fund
7D
-8.1%
1Y
-37.0%
BLND
UK£3.85
British Land
7D
-1.5%
1Y
-3.5%
AEWU
UK£1.03
AEW UK REIT
7D
0.8%
1Y
0.8%
CREI
UK£0.86
Custodian Property Income REIT
7D
1.1%
1Y
11.6%
TOWN
UK£1.17
Town Centre Securities
7D
-2.1%
1Y
-13.1%
SERE
UK£0.60
Schroder European Real Estate Investment Trust
7D
-1.6%
1Y
-9.6%
SREI
UK£0.50
Schroder Real Estate Investment Trust
7D
2.7%
1Y
-5.1%